We draw attention to the following news release issued by Textainer Group Holdings Limited, in which Trencor has a 48,1% beneficiary interest:

"Hamilton, Bermuda - (Business Wire) - Oct. 28, 2014 - Textainer Group Holdings Limited (NYSE: TGH) ("Textainer"), the worldâ€™s largest lessor of intermodal containers based on fleet size, today announced that Textainer Marine Containers III Limited ("TMCL III"), one of Textainer's asset owning subsidiaries, priced a private placement of $301.4 million in aggregate principal amount of Series 2014-1 Fixed Rate Asset Backed Notes (the "Notes") to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 (the "Act") and to non-U.S. persons in accordance with Regulation S promulgated under the Act. The Notes will be fully amortizing notes payable on a straight-line basis over a scheduled payment term of ten years, but not to exceed the maximum payment term of twenty-five years. The Notes have a fixed interest rate, payable monthly, of 3.27% per annum, and are expected to be sold slightly below par resulting in a bond equivalent yield on the Notes of 3.30% per annum.

The proceeds from the issuance of the Notes are expected to be used to acquire intermodal shipping containers from Textainer Limited, the parent company of TMCL III and from another Textainer subsidiary, and for general corporate purposes. The Notes are secured by a pledge of TMCL III's assets.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any of the Notes, and shall not constitute an offer, solicitation or sale of the Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

The Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state laws.

About Trencor

TRENCOR LIMITED is an investment holding company listed on the JSE. Trencor benefits from operations that focus on owning, leasing, managing and trading marine cargo containers worldwide, and related finance activities. Trencor has a beneficiary interest in Textainer.